What is meant by consumer surplus?
It is the amount by which the price consumers are willing to pay exceeds the market price.
2 )
It is the difference between the price consumers are willing to pay and the price producers are willing to supply.
3 )
It is the discount firms offer to the consumers for buying goods in bulk.
4 )
It is the excess of quantity demanded of a product over its quantity supplied at a given price.
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